Maldives Government Amends Regulations to Prioritize SMEs in Government Tenders

The Maldivian Finance Ministry announced plans to amend regulations to prioritize registered Small and Medium Enterprises (SMEs) in government project tenders. This decision follows concerns raised by SME owners during a meeting with President Dr. Mohamed Muizzu on December 17, 2025. SMEs highlighted challenges such as unpaid government dues from the previous administration, difficulties in accessing US dollars, and obstacles in securing government projects. The Finance Ministry stated that efforts are underway to introduce concessions within the government procurement system, including allocating tenders below a specified value exclusively to SMEs. The Ministry is also collaborating with relevant authorities to amend laws and reform procurement processes to enhance SME competitiveness. Additionally, discussions with the Maldives Inland Revenue Authority (MIRA) and state-owned enterprises (SOEs) are ongoing to settle government dues by offsetting them against SME tax obligations. Other measures include reducing fees paid by SMEs to SOEs and converting USD fees to Maldivian Rufiyaa. President Muizzu has designated 2026-2027 as a period for implementing special measures to advance SMEs.